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Ocala Main Street INC

Tax-deductible

Ocala, FL501(c)(3)Arts & CultureEIN 47-5200397Revenue $121K in FY2024

On file with the IRS110 Sw Broadway St, 34471-1139 · Ocala, FLTax-exempt since Nov 2016Publicly supported charity — 170(b)(1)(A)(vi)

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To create a thriving, unique and livable downtown community

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
Run by 46 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $43K a year · 48% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$292K
390% of total assets
Concern: liabilities are 390% of assets; over 80%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$121K
-4% vs prior year
Spent
$151K
To programs
67%
Net assets
−$217K
By yearFY2020–FY2024
Revenue
$121K
FY2024▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$79K
FY2021$30K
FY2023$126K
FY2024$121K
Expenses
$151K
FY2024▼ -22%
Tap a bar for its year
Expenses by fiscal year
FY2020$80K
FY2021$104K
FY2023$193K
FY2024$151K
Net assets
−$217K
FY2024▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2020$2K
FY2021−$71K
FY2023−$187K
FY2024−$217K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $102K Management & general 33% · $49K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Larry Bush
Director
$0Pt VII · Sec A
Scott Coldwell
Design Chair
$0Pt VII · Sec A
Douglas Cone
Director
$0Pt VII · Sec A
John Gibboney
Treasurer
$0Pt VII · Sec A
Kaycie Hartley
Promotions C
$0Pt VII · Sec A
Stewart Hill
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Andrew Hinkle’s $67K as President is at the 61st percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Ocala Main Street INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds a vibrant, livable downtown community.

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Provided by the organization

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1 program · $102K · in their own filed words · FY2024
01

Operating expenses

$102Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$121K
Ln 12
Gifts and grantsLn 1h$121K
Investment incomeLn 3$583
Money outPt IX
$151K
Ln 25
Programscol B$102K
Managementcol C$49K
Owns and owesPt X
−$217K
net assets · Ln 32
Cash and savingsLn 1–2$54K
Total assetsLn 16$75K
LiabilitiesLn 26$292K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$121K
Government grantsLn 1e$48K
Investment incomeLn 3$583
Total revenueLn 12$121K
Assets in detailPt X, end of year
CashLn 1$54K
Cash and savings togetherLn 1–2$54K
InvestmentsLn 11–13$4K
Land, buildings, equipmentLn 10c$15K
Other assetsLn 15$2K
Total assetsLn 16$75K
LiabilitiesLn 26$292K
Net assetsLn 32−$217K
OperationsPt I, VI
EmployeesI 51
VolunteersI 646
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$92K$54K
InvestmentsLn 11–13$4K
Land, buildings, equipmentLn 10c$15K
Total assetsLn 16$95K$75K
LiabilitiesLn 26$283K$292K
Net assetsLn 32−$187K−$217K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$65K$65K
Payroll taxesLn 10$5K$5K
Other fees for servicesLn 11g$20K$1K$19K
Advertising and promotionLn 12$2K$2K$420
Office expensesLn 13$9K$6K$3K
Information technologyLn 14$3K$3K
TravelLn 17$566$566
InterestLn 20$6K$6K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$32K$20K$12K
All other expensesLn 24e$5K$3K$2K
Total functional expensesLn 25$151K$102K$49K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $121K$151K−$30K−$217K 990 PDF
FY2023 $126K$193K−$67K−$187K 990 PDF
FY2022 Not on file
FY2021 $30K$104K−$73K−$71K 990 PDF
FY2020 $79K$80K−$1K$2K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $121,233 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $63,362$120,650
I-9 Program service revenuePrior year $61,218$0
I-10 Investment incomePrior year $247$583
I-11 Other revenuePrior year $819$0
I-12 Total revenuePrior year $125,646$121,233
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $71,761$70,015
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $121,271$81,184
I-18 Total expensesPrior year $193,032$151,199
I-19 Revenue less expensesPrior year −$67,386−$29,966
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $121,233 across 5 lines filed
VIII-1e Government grants$48,000
VIII-1f All other contributions, gifts and grants$72,650
VIII-1h Total contributions, gifts and grants$120,650
VIII-3 Investment incomeRelated to mission $583$583
VIII-12 Total revenueRelated to mission $583$121,233
Part IX · Statement of functional expenses $151,199 across 11 lines filed
IX-7 Other salaries and wagesPrograms $65,000$65,000
IX-10 Payroll taxesPrograms $5,015$5,015
IX-11g Other fees for servicesPrograms $1,120 · Management $19,028$20,148
IX-12 Advertising and promotionPrograms $1,649 · Management $420$2,069
IX-13 Office expensesPrograms $6,489 · Management $2,859$9,348
IX-14 Information technologyManagement $2,723$2,723
IX-17 TravelManagement $566$566
IX-20 InterestManagement $6,237$6,237
IX-23 InsuranceManagement $3,656$3,656
IX-24 Other expenses (24a–d)Programs $19,720 · Management $11,924$31,644
IX-24e All other expensesPrograms $2,853 · Management $1,940$4,793
IX-25 Total functional expensesPrograms $101,846 · Management $49,353 · Fundraising $0$151,199
Part X · Balance sheet $74,974 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $91,643$53,624
X-4 Accounts receivableStart of year $548$417
X-10c Land, buildings and equipment, net$15,330
X-11 Publicly traded securities$3,919
X-15 Other assetsStart of year $3,301$1,684
X-16 Total assetsStart of year $95,492$74,974
X-17 Accounts payable and accrued expensesStart of year $1,829$1,750
X-24 Unsecured notes and loans payableStart of year $276,662$268,571
X-25 Other liabilitiesStart of year $4,468$22,086
X-26 Total liabilitiesStart of year $282,959$292,407
X-32 Total net assets or fund balancesStart of year −$187,467−$217,433
X-33 Total liabilities and net assetsStart of year $95,492$74,974
Part XI · Reconciliation of net assets −$217,433 net assets at year end
XI-1 Total revenue$121,233
XI-2 Total expenses$151,199
XI-3 Revenue less expenses−$29,966
XI-4 Net assets at start of year−$187,467
XI-10 Net assets at end of year−$217,433

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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